Question

Use Fiji and Discuss:

One important lesson from the current covid-19 is the vulnerability of economies dependent on foreign aid, foreign investment and trade (goods and services) and hence the importance of domestic investment (i.e. encouraging the private sector to invest in essential sectors such as food production in case of such prolonged shut-down of global movement of people, goods and services). On this note, discuss the importance of domestic investment for self-sufficiency, economic expansion and employment. Discuss how the government can promote domestic investment (i.e. respective polices etc.).

Answer 1

ANSWER :

Confidence has become the need of great importance because of the pandemic. Financial aspects heading towards independence fundamentally expect to fabricate most or the entirety of the nation needs locally.

This would mean replacement of imports by delivering comparative merchandise in the homegrown business sectors. Venture is critical if an economy needs to get independent. The economy should put resources into private assembling and different enterprises so the merchandise can be made locally. This will help the development, grow the economy and make work.

Not all the economies have had the option to make approaches to accomplish independence. This can be approved from the contextual analysis of Pacific Islands itself. The Pacific Islands are subject to different economies for their development. The economies endured an immense lull in light of the fact that the travel industry was influenced because of the pandemic.

This prompted many lay offs and decreased the monetary action. Alongside this, their fare area was additionally influenced in view of the diminished worldwide interest. Economies which to a great extent rely upon trading of gas or oil have been influenced. This plainly shows the Pacific Island isn't near independence and furthermore weights on its significance. To guarantee that the homegrown economy doesn't crumple due to worldwide or worldwide stuns, independence is a lot of required.

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